When many people first came across the concept of UBI, they may think that the project is just like so many of the previous airdrops of candy coins, won't end up producing much value. I also had this misconception when I first learned about the UBI, But after I learned more about the project I found that I was wrong. the UBI based on ENU is not going to be as worthless as any of the previous airdrop coins since it has a completely different mechanism for producing coins. In some ways, its producing mechanism is even better than the original digital currency: bitcoin.
First, we know that traditional legal tender is issued by a government or other authority and backed by state violence to guarantee its value. It is clear that new produced money will not go to ordinary people in the first place, but to those already rich and powerful. So in the Matthew effect, the poor become poorer, the rich become richer. For example, Wang Jianlin could easily borrow up to 1 billion CNY reasonably and legally, and then he could use that 1 billion CNY to build skyscrapers and make 10 billion CNY. He could then hand over 1% of that 10 billion CNY to his son for pocket money. Then his son can easily use 1 percent of his pocket money to sleep with a lot of beautiful girls. And those beautiful girls may have been endlessly pursued by other less fortunate boys but to no avail.Does this kind of story sounds disgusting? That's right if it's sounds disgusting for you, since it's shows that our society still can be saved. (Wang Jianlin is the former richest man in China, and Wang Sicong is his only son who is knowned by change beautiful girlfriends very frequently.)
I want to note that, I don't mean to discriminate against women here, because if Wang Sicong likes to sleep with men, he can also spend 1 million CNY to sleep with many men. I'm not condemning Wang Sicong either, because if I am as rich as him, I would probably live like him. So what is the root of the problem? I think it's mostly because of the wealth gap. The traditional way of handing out legal tender aggravates the gap between the rich and the poor. Because most of the new legal money goes into the hands of the rich and powerful, and then they take the new money and make more money. Most ordinary people, however, do not have the good fortune to get new money directly. They have to sacrifice their time, energy and even dignity to get only a little second-hand money.
At this time, bitcoin emerged, and its emergence gave ordinary people the right to mint money, thus it's allowing wealth to flow to those who might not be rich and powerful. Arguably, bitcoin has changed a lot of people's life, especially those who bought it heavily before 2014. But the mechanism by which bitcoin is created is bound to be similarly controlled by the Matthew effect. People with more bitcoins can buy more mines and then produce more bitcoins to put in their wallets. As you can imagine, 10 years later, if bitcoin becomes a currency recognized by the majority of people around the world, it still cannot change the injustice of the whole human society, it could only reduce the power of the government. A man who hold 10BTC could easily sleep with a girl by his 0.1BTC just like Wang Sicong by his CNY, while a poor guy couldn't get the girl by chasing the girl for years. But is this the society we want to pursue? I don't think even people who own a lot of bitcoin really like this society, do they? It's just like the story that a hero who defeats a evil dragon but eventually becomes the new evil dragon himself.
So what's the way to break the cycle? I think UBI based on ENU network can achieve this. UBI stands for universal basic income. Simply put, as long as you can prove that you are a living person in the real world, you can regularly receive UBI tokens distributed by the ENU mainnet. It doesn't matter if you're rich or poor; men or women;black, white, or yellow. And also doesn't matter whether you join the program early or late. You can get UBI tokens like everyone else with the same amount, so the nature of UBI is completely different from bitcoin and all other crypto currencies. You can think of it as a crypto currency that everyone on earth is a miner of it, and every minner has the same efficiency.
You can imagine that one day, more than 50 percent of the world's population held ENU's UBI tokens. And by metcalfe's law, UBI tokens would be worth more than bitcoin at that time, and possibly more than all other legal tender. At that time, human society will be more equitable and the gap between the rich and the poor will be greatly reduced. Even very poor people can buy enough food and get basic medical care. And most ordinary people are no longer slaves of money that sell their time and energy to make a living, but are free to pursue the life they want.
Surely many people would think that such an idea is purely utopian and impossible to achieve. They may have questions such as how is it possible to verify the identity of UBI applicants? How is it possible to generalize UBI to 50% of the world's population? Why is it worth more than bitcoin or even all legal tender when there are many people holding it? Etc. It will take a lot of time to answer these questions in detail. If you are interested in these questions, please keep your attention to my later posts. Thank you.